2019 Account Takeover and Fraud Workshop

Developing an organization’s culture is based on beliefs and structures driven from the top. Developing a culture of fraud prevention is no different. This session features representatives from financial services companies sharing their insight on how they successfully developed their culture of strong fraud prevention.

This is where customer experience and fraud prevention intersect! Participants will discuss common challenges  and how to collaborate while delivering a secure and outstanding customer experience from within any distribution channel.

This session is repeated on Friday morning.

While Cyber Security, Fraud Prevention and Privacy may be separate and distinct areas within an organization, collaboration and coordination may be vital in leveraging resources for effective prevention and mitigation of fraud. What about SIU? The objective of this session is to learn best practices of enterprise-wide collaboration in companies to enhance opportunities for individuals in cyber security, fraud prevention and privacy to collaborate as they prevent, detect and prosecute fraudsters.

When it comes to Fraud Prevention, front line associates within call centers and back office operations are sometimes in the best position to recognize something doesn’t seem just right. How do companies provide regular and effective fraud awareness training to ensure that their associates are equipped to recognize the red flags and prepared to take appropriate actions when faced with a fraudulent interaction or transaction? Since learning from the most recent fraud incident can help prevent the next one, how do companies ensure an appropriate feedback loop is in place to identify and share best practices and enhance fraud prevention controls? Do any companies have any special recognition programs to reward associates who do an especially good job at identifying and\or preventing fraud?

This interactive discussion explores what companies are doing to change the culture and develop vigilance with their employees, plan sponsors and/or advisors around Fraud prevention. Such measures include recognition, communication, training & education as well as the role of Senior Management in setting the tone for fraud prevention and mitigation going forward.

This session will be repeated on Friday morning.

Some approaches and vendors' solutions to combat fraud are often too expensive for some companies. This session explores options available to help with authentication and support fraud prevention for smaller companies.

While Cyber Security, Fraud Prevention and Privacy may be separate and distinct areas within an organization, collaboration and coordination may be vital in leveraging resources for effective prevention and mitigation of fraud. What about SIU? The objective of this session is to learn best practices of enterprise-wide collaboration in companies to enhance opportunities for individuals in cyber security, fraud prevention and privacy to collaborate as they prevent, detect and prosecute fraudsters.

Does your Company utilize BPO providers to administer some or all of your business? If so, it is necessary to ensure the BPO remains current with fraud prevention controls and procedures to provide the highest level of protection and security to your company’s accounts. Participants in this session will discuss actions and controls necessary to ensure the BPO is protecting policyholder accounts with the necessary level of care and expertise.

In this interactive session, you’ll get the latest information on cybercrime trends worldwide and learn why multi-layered strategies are needed to protect your business from vulnerabilities. We’ll share statistics and insights from the just-released 2019 LexisNexis Risk Solutions Cybercrime Report based on nearly 17 billion digital transactions worldwide across all markets. We’ll discuss the implications for the life insurance market using audience polling and we’ll invite audience discussion on a variety of cybercrime activities and prevention strategy issues.

Sponsored by TRUSTID

This session explores how data analysis techniques, machine learning and artificial intelligence can be used to support your fraud prevention efforts and how it also could be used by fraudsters against us.

Elder abuse and familial fraud, perpetrated by someone close to the victim, continues as an disturbing trend in the industry. This topic unveils what companies are experiencing and proposes potential solutions to implement in your organization. This will also be an opportunity to discuss how financial services companies are interacting with law enforcement, protective services and state regulations with regards to delaying processing of a transaction because of suspicion of Elder Abuse.

Carriers who work with TPAs in the Retirement Plans space have experienced increasing fraud attempts where the fraudsters are attempting to infiltrate customer accounts by going through the TPAs. Regardless of your line of business, attendees in this session will discuss how they work with service providers to ensure they level of defense of their service providers meets or exceeds your company’s requirement for fraud prevention.

If unable to purchase sophisticated software solutions, some companies have implemented some fairly effective home grown and cost effective solutions that flag suspicious phone calls and transactions. Do you have any success stories to share that could help others to implement home grown tools that monitor calls and account transactions looking for “known bad” Indicators of Compromise (i.e. phone numbers, IPs, bank accounts) or suspicious transaction patterns?

Call centers have emerged as the primary source for the initiation of financial account take-overs according to the 2019 State of Call Center Authentication. In this session, we’ll explore the ways fraudsters are executing these attacks and the new technologies that are available to protect customer accounts without undermining the caller experience.

Presentations in this session will feature demonstrations and an overview of fraud prevention tools available for the financial services industry to prevent, detect and mitigate fraud and account takeovers.

Organizations presenting in this session are:

• LIMRA LOMA FraudShare - https://www.loma.org/fraudshare/
• LexisNexis® Risk Solutions - https://risk.lexisnexis.com/insurance
• Neustar TRUSTID - https://www.trustid.com/

Sponsored by LexisNexis Risk Solutions

We know it's fraud...now what? Every company is dealing with various forms of fraud every day. But how do companies individually or together approach prosecuting criminal behavior, especially in the account takeover space? A representative from a leading insurance company and a law enforcement agency will provide insight on how best to move forward with law enforcement when you have a clear case of fraud.

In order to help prioritize where you should focus on what you should spend, companies should invest time and resources in defining key performance indicators, regularly measuring results and developing methods to balance risk and reward of your solutions. This session will bring practical approaches to achieving this.

What’s the difference when it comes to fraud? Carriers have seen increases in fraud in both of these product lines over the past 3-4 years. However, the customers they interact with are different and solutions may need to be tailored to meet unique needs. This topic will explore those differences and what solutions companies are implementing.

This interactive discussion explores what companies are doing to change the culture and develop vigilance with their employees, plan sponsors and/or advisors around Fraud prevention. Such measures include recognition, communication, training & education as well as the role of Senior Management in setting the tone for fraud prevention and mitigation going forward.

Repeat of Session 2.1 on Thursday.

This is where customer experience and fraud prevention intersect! Participants will discuss common challenges  and how to collaborate while delivering a secure and outstanding customer experience from within any distribution channel.

Repeat of Session 1.1 on Thursday.